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(U0) Bears Return

US 10YR FUTURE TECHS
  • RES 4: 140-13 Aug 4 / 5 / 6 high and major resistance
  • RES 3: 140-01+ 76.4% of the Aug 4 - 13 downleg / 30 High Aug 11
  • RES 2: 139-26+ 61.8% of the Aug 4 - 13 downleg / 30 High Aug 11
  • RES 1: 139-23+ High Aug 21 and key resistance
  • PRICE: 139-01 @ 15:50 BST Aug 25
  • SUP 1: 139-01 Low Aug 25
  • SUP 2: 138-28+ Low Aug 13 and the key support
  • SUP 3: 138-23+ Low Jul 2
  • SUP 4: 138-07 Low Jun 16

Treasuries are offered today as futures extend this week's move lower. The contract stalled last week at 139-23+, Aug 21 high. The subsequent sharp sell-off suggests the recovery and corrective bounce between Aug 13 - 21 has run its course. If this is correct, key support at 138-28, Aug 13 low is likely to be tested as a bearish theme starts to again dominate. Clearance of this support would open low 138-00 levels. Resistance is at 139-23+.

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